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Elliott Associates increases minority stake in Relativity Media

New York based private investment firm Elliott Associates has increased its minority stake in Relativity Media in the second major financing story of the day following Media Rights Capital's deal for a $350m revolving credit facility.Elliott decided to increase its investment on the heels of a profitable summer for the Beverly 2 films, named after the co-financing partnership between Relativity and Elliott's joint venture Relativity Capital and Universal Pictures.

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